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or worse, we're not seeing big enough deficits because everyone in washington's got this deficit hysteria, even though we're paying 1.6% interest on ten-year bonds. >> well, how about some clarity? how come ceo after ceo and manager after manager come on this program and tell me the same thing? i'm not going to move. i'm not going to put money into the economy. i'm not going to hire new workers because i have no idea what my tax rates are going to be. >> they want tax cuts. >> no, i think -- >> if you look at their investment -- >> i think they want clarity. >> i look at the data. if you look at investment equipment and softwares, i'm leaving out structures for exactly the reason your previous segment said. there's a huge vacancy in most categories in unresidential real estate because of the prior building boom. if you look at equipment and software investments and share of gdp, we're almost back to the prerecession level. so the fact is generally they actually have been investing in spite of what they're telling you. >> maria, dean's right about one thing. all the stimulus efforts have b
or worse, we're not seeing big enough deficits because everyone in washington's got this deficit hysteria, even though we're paying 1.6% interest on ten-year bonds. >> well, how about some clarity? how come ceo after ceo and manager after manager come on this program and tell me the same thing? i'm not going to move. i'm not going to put money into the economy. i'm not going to hire new workers because i have no idea what my tax rates are going to be. >> they want tax cuts. >>...
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so, you know, i would agree that we need to cut our deficits. it's just the wrong way to do it. >> so what is the better way to do it? here we have, you know, automatic cuts coming, automatic tax increases coming. a lot of people predicting that 2013 will be a recession as a result of this. we haven't even heard from the defense companies in terms of how many jobs they're about to cut because of it. so what's the best way to do it? >> keep in mind nobody wants the sequester to happen. maybe chris and his colleagues at catos are an exception. the idea of a sequester is so awf awful, it would cut so deeply into spending, it should never happen. it's a doomsday device, which is trying to get congress to do its real job, which is to focus on taxes and sbentitlements get a grand bargain. nobody wants it to happen, but we're playing a big game of chicken because nobody wants to do the other things that are necessary to get those deficits down. but look, if we cut $55 billion out of defense, which is what the sequester would do, in one year alone, in 2
so, you know, i would agree that we need to cut our deficits. it's just the wrong way to do it. >> so what is the better way to do it? here we have, you know, automatic cuts coming, automatic tax increases coming. a lot of people predicting that 2013 will be a recession as a result of this. we haven't even heard from the defense companies in terms of how many jobs they're about to cut because of it. so what's the best way to do it? >> keep in mind nobody wants the sequester to...
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you're not happy with the deficit plans, you're not happy with the tax plans. but the thing that really caught my eye because it's the credo of this show. you believe that free market capitalism is the best way to grow the economy. i do too, susan. did that push you toward romney? >> absolutely. i think capitalism is the most efficient genius of american culture. and i feel that the current president doesn't see a problem that a government program can't solve. and i have much more faith in individuals. >> government trickle down. that is what the phrase that romney used. government trickle down zblin deed. >> i thought that was pretty darn clever. steve right here is cringing already about that. but government trickle down, susan. did that turn you off? >> yeah. very much so. and i think it's an accurate reflection of the philosophy of this administration. >> all right. how about the debate? we'll give you a few seconds. debate last night? please, not please? give me a quickie. >> i think you said it best, larry, when you said that the president's clock was pol
you're not happy with the deficit plans, you're not happy with the tax plans. but the thing that really caught my eye because it's the credo of this show. you believe that free market capitalism is the best way to grow the economy. i do too, susan. did that push you toward romney? >> absolutely. i think capitalism is the most efficient genius of american culture. and i feel that the current president doesn't see a problem that a government program can't solve. and i have much more faith...
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in half and we've had four years of trillion dollar budget deficits. these are promises and he's got to be held accountable for that. >> i hope mitt romney is listening to this and takes your advice. a debate of 90 minutes is a precious commodity and i'm saying that from romney's perspective, there are other issues that have a much better chance to move him forward than talking about solyndra. >> i got to leave it there, gentlemen. i know, did -- please stay with cnbc for tonight's coverage. i'm larry kudlow. thanks for watching. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. which can withstand over three and a half tons. and every day since, two years ago, the people of bp made a commitment to the gulf. we've worked hard to keep it. bp has paid over twenty-three billion dollars to help people and businesses who were affected, and to cover cleanup costs. today, the beaches and gulf are open for every
in half and we've had four years of trillion dollar budget deficits. these are promises and he's got to be held accountable for that. >> i hope mitt romney is listening to this and takes your advice. a debate of 90 minutes is a precious commodity and i'm saying that from romney's perspective, there are other issues that have a much better chance to move him forward than talking about solyndra. >> i got to leave it there, gentlemen. i know, did -- please stay with cnbc for tonight's...
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they're trying to get the deficit down to 4.5% deficit. quite frankly, that is pie in the skil according to pretty much all the analysts and the economists. and it's just a question of how much they'll miss by. because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it will cost them 3.5 billion euro misincreased pension costs. so you can see the conundrum. they're enacting enormous amounts of austerity, but that's denting an economy which is already in recession. its second since 2008. and things are getting worse. 25% unemployment, a million up sold homes. and we haven't even talked about the banking crisis
they're trying to get the deficit down to 4.5% deficit. quite frankly, that is pie in the skil according to pretty much all the analysts and the economists. and it's just a question of how much they'll miss by. because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16%...
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economy focusing on taxes, the deficit, remaking head care and job creation, too. romney came out on the offensive, casting the president as a proponent of big government and spending. he would raise taxes on small businesses and obama, though, accused his rival of trying to double down on policies that led to the recession and financial crisis. >> the president has a view very lar similar to the view four years ago. spending more, taxing more, regulating more, trickle down government would work. >> the genius of america is the free enterprise system and freedom. and the fact that people can go out there and start a business, work on an idea, make their own decisions. but as abraham lincoln understood, there are also some things we do better together. >> so the vice presidential candidates, paul ryan and skrjo biden will meet for their only debate next week. president obama and mitt romney head back out to the campaign trail today where the president making stops in colorado and wisconsin. romney will travel to virginia. let's get a bit more into this debate. joini
economy focusing on taxes, the deficit, remaking head care and job creation, too. romney came out on the offensive, casting the president as a proponent of big government and spending. he would raise taxes on small businesses and obama, though, accused his rival of trying to double down on policies that led to the recession and financial crisis. >> the president has a view very lar similar to the view four years ago. spending more, taxing more, regulating more, trickle down government...
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you mentioned that mitt romney's closed the deficit among likely voters for obama from five points to three points. and in florida, he's closed from five down to one which is tied given the margin of error in our poll. in virginia, he has closed the gap from five to two. if you look at the state of ohio, a must-win state for mitt romney, mathematically possible for him to get to it without it but his strategists think he needs it. he needs to make progress there. but the fact that some of the national polls are coming back a little bit, some of the swing state polls are tightening, is a bit of an earn couragement for romney that he still has an opportunity for deficit with three or four points to change the dynamic in some way. he's got to hope that obama is not on his best game. you could have a scenario that like what happened in 2000 where george w. bush moved significantly without gore and ultimately became president. >> it's interesting that the poll also shows, as you mention, this 12% of swingable votes in the middle that he could potentially get a hold of. also ensuring that t
you mentioned that mitt romney's closed the deficit among likely voters for obama from five points to three points. and in florida, he's closed from five down to one which is tied given the margin of error in our poll. in virginia, he has closed the gap from five to two. if you look at the state of ohio, a must-win state for mitt romney, mathematically possible for him to get to it without it but his strategists think he needs it. he needs to make progress there. but the fact that some of the...
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they are buying the entire deficit. >>> and the case for precious metals. >> i love gold. it's too early to cheerlead a bull market in equities. we're going to find out where his funds are investing more than $10 billion. >>> and we are one week away from the presidential debate. >> what you just said is one of the most insanely idiotic things i've ever heard. >> a simple wrong would've done just fine. >> we'll convene our debate prep session with our guest hosts and howard dean, former governor and dnc chair. the third hour of "squawk box" begins right now. >>> welcome back to "squawk box" here on cnbc, first in business worldwide. i'm joe kernan along with becky quick. our guest host is neel kashkari. i'd be proud to say -- who did we have on yesterday? someone on talking about who saved the world, saying that, oh, it was barry diller. >> right, right. >> barry said that the president had helped to avert a much worse situation. but actually it goes back to bush and pall paulson and t.a.r.p. >> in hindsight, we didn't know if our programs were going to work. we feel very
they are buying the entire deficit. >>> and the case for precious metals. >> i love gold. it's too early to cheerlead a bull market in equities. we're going to find out where his funds are investing more than $10 billion. >>> and we are one week away from the presidential debate. >> what you just said is one of the most insanely idiotic things i've ever heard. >> a simple wrong would've done just fine. >> we'll convene our debate prep session with our...
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>> there's no question the deficits have exploded under them. the last two decades among the two wars and the mistakes in my opinion, we blew a lot of money. multiples of what we blew before. so, you know, my attitude is that -- >> jimmy, my question is do you have any confidence no matter who is in office that actually the hard cuts that need to be made ultimately to make any text plan deficit neutral are actually going to happen? >> and my question to you comes down to a simple question. >> do you believe in the tooth fairy? >> who does the president listen to? i wonder if you could name for me four or five executives who have been advising the president and that he's been listening to. okay, four. okay, three. okay, two. okay, one. i'm waiting. one name. >> well -- >> you would argue -- >> if you think general electric the irrelevant to what's wrong with the country today. >> we have steve case on the air a lot who makes that argument. i think you are probably more right than wrong. >> ubs was losing their clients because of their affiliate w
>> there's no question the deficits have exploded under them. the last two decades among the two wars and the mistakes in my opinion, we blew a lot of money. multiples of what we blew before. so, you know, my attitude is that -- >> jimmy, my question is do you have any confidence no matter who is in office that actually the hard cuts that need to be made ultimately to make any text plan deficit neutral are actually going to happen? >> and my question to you comes down to a...
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if you elect me, i will put through my plan to refinance the deficits is, switch to opec busting job creating natural gases, lower taxes on dividends, chakts the masses on money, clean the skies, rebuild our infrastructure and reappoint ben scotty bernanke to give liberty, justice and higher stock prices for all. that's a platform i could vote for, if only obama or romney would embrace it. lawrence in texas, lawrence? >> caller: jim, how are you doing? i have a question for you today regarding rpm. the earning report came out today. i'm trying to find out whether it should be long or short in the stock. >> short that, you have to short that plentiful dividend. i never recommend that idea. you don't want to do that, boss. i was going to recommend this and then i felt that the upside was very, very limited. good numbers. i should have done it. for heaven's say, i really did kick myself with this one. i thought if i recommended it, the stock would go up too much. ron in louisiana. ron? >> caller: jim. i've got to thank you. you're the best. i've been investing for 55 years and didn't ma
if you elect me, i will put through my plan to refinance the deficits is, switch to opec busting job creating natural gases, lower taxes on dividends, chakts the masses on money, clean the skies, rebuild our infrastructure and reappoint ben scotty bernanke to give liberty, justice and higher stock prices for all. that's a platform i could vote for, if only obama or romney would embrace it. lawrence in texas, lawrence? >> caller: jim, how are you doing? i have a question for you today...
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and doesn't resolve the question about how do you keep the code without increasing the deficit. but it's a promising proposal that tax policy exports like because it is achievable. now, if you lump the deductions together and don't fight them one by one and have a cap, that is easier to get done. >> on that 17,000, a, do you think we're going to hear about it tonight? does that include things like charitable deductions, mortgage deductions? how far do you think that goes? >> reporter: yes, it does. >> 17,000 cap across the board. that is meaningful. that would have a huge impact on the real estate market, it would have a huge impact broadly. >> reporter: yes, i believe from what i was reading yesterday, and i haven't gotten a chance to delve into it that $17,000 level was set purposefully because people in the under $200,000 income category generally speaking don't have more than that, right? but it makes it easier to begin taking on deductions as you move up the scale. so i do think it's positive. i would expect him to get asked about it and, you know, if he starts sketching ou
and doesn't resolve the question about how do you keep the code without increasing the deficit. but it's a promising proposal that tax policy exports like because it is achievable. now, if you lump the deductions together and don't fight them one by one and have a cap, that is easier to get done. >> on that 17,000, a, do you think we're going to hear about it tonight? does that include things like charitable deductions, mortgage deductions? how far do you think that goes? >>...
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imagine what would happen if we dealt with the budget deficit in a meaningful way and did deal with the issues? one thinks the uncertainty cloud goes away. if it doesn't, there's something else going on. >> i was referring to a sorkin column arguing that a lot of the p.e. firms have to use this money in the next few months. pretty lofty money when you talk about price times, even at dow, right? >> i'm surprised there hasn't been more activity from private equity. they need to put the money to work or god forbid to give it back. that's not something they want to do. they can borrow fairly well. maybe not to the size overall of the deals percentagewise, but incredibly generous terms and we have not seen the kind of deals we may have anticipated. i know andrew wrote about that today. >> i'm pro-law on "mad money" as the large real estate trusts are getting industrial use in warehouses. he said something really interesting, you know what? we are finally running out of space. we are going to have to start building. nobody's building anything. don wood and comes, we are almost out of shopping
imagine what would happen if we dealt with the budget deficit in a meaningful way and did deal with the issues? one thinks the uncertainty cloud goes away. if it doesn't, there's something else going on. >> i was referring to a sorkin column arguing that a lot of the p.e. firms have to use this money in the next few months. pretty lofty money when you talk about price times, even at dow, right? >> i'm surprised there hasn't been more activity from private equity. they need to put...
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all those same polls that show president obama leading and claims to correct the bias, turning romney deficits into commanding romney leads. the idea behind is it simple. all polls base the outcome on what pollsters believe the electorate will look like, how many democrats versus how many republicans they think will actually turn out. getting that partisan makeup wrong can tilt the predictions. the people that don't believe the polls say this time, pollsters think the 2012 electorate will look a lot like 2008 and this they say is wrong. notice i said this time. back in 2004, democrats complained that the polls which showed george w. bush leading were overestimating the number of republicans who would vote. they were wrong. the polls were right. in 2000, al gore said don't believe the polls, polls showed him losing narrowly. polls were right. in fact, it's hard to find an example of the polls on average getting it wrong unless you go back to 1948, when they predicted thomas dewey defeated president harry truman. cnn political contributor ari fleischer joins us. he's an occasionally unpaid commu
all those same polls that show president obama leading and claims to correct the bias, turning romney deficits into commanding romney leads. the idea behind is it simple. all polls base the outcome on what pollsters believe the electorate will look like, how many democrats versus how many republicans they think will actually turn out. getting that partisan makeup wrong can tilt the predictions. the people that don't believe the polls say this time, pollsters think the 2012 electorate will look...
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the romney campaign is firing back as in, hey, a humongous deficit is not patriotic. >> this is a land where economic freedom has allowed people to pursue their dreams and in doing so and achieving success, they lift us as a nation, they give us jobs, i will not apologize for success here and i will never apologize for america abroad. >> how's that for economic patriotism, whatever that is? so the talk back question for you this morning, is there such a thing as economic patriotism, facebook.com/carolcnn, your responses later this hour. >>> when we think of bounties in football now we think of the new orleans saints. saints' head coach, sean payton is on the golf course instead of the football field this season after the nfl suspended him for his role in bountygate. a former assistant of another team says his players were offered cash for big hits on opponents. these weren't nfl players. they were 10 year-olds. here's casey wian. >> reporter: the 2011 red cobra's pop warner football team went undefeated in the regular season. >> this was a team that knew it was on the verge of greatnes
the romney campaign is firing back as in, hey, a humongous deficit is not patriotic. >> this is a land where economic freedom has allowed people to pursue their dreams and in doing so and achieving success, they lift us as a nation, they give us jobs, i will not apologize for success here and i will never apologize for america abroad. >> how's that for economic patriotism, whatever that is? so the talk back question for you this morning, is there such a thing as economic patriotism,...
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there will still be a substantial deficit but it will be much smaller. president obama's main contribution to this $16 billion debt which is -- a $1 trillion debt which is a ten-year figure, projecting out ten years, was the stimulus bill which was $800 billion, which i believe was a good thing to do. i think that that might even be even bigger without it, because it kept people working and paying taxes and off the government payrolls and because it created new jobs and infrastructure in energy. if you look at his annual spending budgets, they are about 2% increases. that's less than the rate of inflation. so i think that the reason that i believe he will win re-election is that we're beginning to recover. we've had a higher rate of job creation since the recession bottomed out, the collapse bottomed out in the middle of 2009, than in the previous eight years, and we are moving in the right direction, and the policies he has advocated are more likely to present a good economic result. that's why if people thought this was just like another recession, he
there will still be a substantial deficit but it will be much smaller. president obama's main contribution to this $16 billion debt which is -- a $1 trillion debt which is a ten-year figure, projecting out ten years, was the stimulus bill which was $800 billion, which i believe was a good thing to do. i think that that might even be even bigger without it, because it kept people working and paying taxes and off the government payrolls and because it created new jobs and infrastructure in...
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and you talk about the deficit? the paul ryan budget that mr. romney says is a marvelous budget won't achieve balance until 30 years from now? romney-ryan aren't even fiscally responsible in their plans. all they want to do is to go back to the bush policies. >> let me interrupt. >> the debt just went up astro nommicly under this president. he's moving in the wrong direction. >> thank you both, ted strickland, ken blackwell, appreciate the discussion. thank you. >>> the world is focusing on iran's nuclear program, thanks in part to israel's attention to the issue. but what about israel's nukes? we investigate next. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. and the c
and you talk about the deficit? the paul ryan budget that mr. romney says is a marvelous budget won't achieve balance until 30 years from now? romney-ryan aren't even fiscally responsible in their plans. all they want to do is to go back to the bush policies. >> let me interrupt. >> the debt just went up astro nommicly under this president. he's moving in the wrong direction. >> thank you both, ted strickland, ken blackwell, appreciate the discussion. thank you. >>>...
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i want to turn to the deficit. mitt romney claims with these tax cuts, he will not add to the deficit. >> my number one principle is, no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. part one. so there is no economists can say mitt romney's tax plan adds $5 trillion. my plan is not to put in place any tax cut that will add to the deficit. >> look at the facts here again. mitt romney has not laid out specifics for how he would pay for his tax cut. he says its by reducing deductions and closing loopholes, but hasn't said which or how many. so the verdict here is simply in complete. we just don't know, wolf. >> he also suggests repeatedly, john, that by improving the economy, there would be a dynamic scoring as they call it more revenue coming in, because more money would be coming into the taxes, businesses and individuals could be doing better. as a result, he's justifying the trillion dollar tax cut if you will. >> hence the grade incomplete. >> he hasn't offered a lot o
i want to turn to the deficit. mitt romney claims with these tax cuts, he will not add to the deficit. >> my number one principle is, no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. part one. so there is no economists can say mitt romney's tax plan adds $5 trillion. my plan is not to put in place any tax cut that will add to the deficit. >> look at the facts here again. mitt romney has not laid out specifics for how he would pay for his...
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i know we have a tough time with our deficit, with the budget, but people are so important, and every up with of these people who is safe, right now, only a 1-100 chance that a victim of human traffic willing be saved. when you meet that person, you meet that survivor, and survivors they, they are incredible. but you look into their eyes and you understand person to person viceraly, what they have gone through, being treated lower than an animal and see the bravery, the courage, the fort t fortitude to help others. and they are so altruistic. i was at the table with the survivors when president obama gave the shoutout. they were blown away and everybody gave him a standing ovation. a very big day for them. they influenced his speech. >> those numbers sure do not add up. thank you for taking the time to share more information about this with us and our viewers. >> thank you. >> to learn more, go to our blog, cnn.com/outfront. >>> you thought the fight over unions was over in michigan, it's kind of quiet. you are dead wrong. [ male announcer ] citi turns 200 this year. in that time ther
i know we have a tough time with our deficit, with the budget, but people are so important, and every up with of these people who is safe, right now, only a 1-100 chance that a victim of human traffic willing be saved. when you meet that person, you meet that survivor, and survivors they, they are incredible. but you look into their eyes and you understand person to person viceraly, what they have gone through, being treated lower than an animal and see the bravery, the courage, the fort t...
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social security hasn't contributed one nick toel to th deficit. can pay out benefits for the next 21 years. the president should be saying now what he said four years ago. he will not cut social security while romney and ryan certainly are. >> now, senator, one thing that i think is puzzling democrats and supporters of the president, as well, today is both men had a chance at closing arguments last night. that is one of the things that they knew was coming their direction. listen in part to what president obama had to say. >> four years ago, i said that i'm not a perfect man and i wouldn't be a perfect president and that is a promise that governor romney thinks i kept. >> why specifically point out the flaws? was that a good choice? >> well, i think not. i mean, i think -- here's what i think the position of the president should be. look, everybody knows the economy is in a lot of trouble today. we all know that. everybody knows that the rich are getting much richer and the middle class is shrinking and poverty and that is the simple truth. but wh
social security hasn't contributed one nick toel to th deficit. can pay out benefits for the next 21 years. the president should be saying now what he said four years ago. he will not cut social security while romney and ryan certainly are. >> now, senator, one thing that i think is puzzling democrats and supporters of the president, as well, today is both men had a chance at closing arguments last night. that is one of the things that they knew was coming their direction. listen in part...
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. >> mitt romney leads according to our poll, on unemployment and the deficit. let me ask you this, ben, because one thing our viewers may assume is that democratic base is now energized and the convention is now partly responsible for that. recently, jim -- our new poll, how do you feel strength of support, 72% of voters are strongly excited. 74% of obama voters. that's a virtual tie and extremely or very enthusiastic about voting in november, 65% of republicans. 64% of democrats. does that worry you? in '08, part of the reason the president won was his people were way more enthusiastic than john mccain's. >> we heard enthusiasm on the republicans side last year and that's been erased and now it all comes down to turnout. what's different from past elections is people are voting right now today in iowa. they're starting to vote tomorrow in ohio. our supporters are camped out at polling places and thousands more democrats voted in iowa last week than republicans. that's the way we've built this organization on the ground for the past 500 days. to turn our suppor
. >> mitt romney leads according to our poll, on unemployment and the deficit. let me ask you this, ben, because one thing our viewers may assume is that democratic base is now energized and the convention is now partly responsible for that. recently, jim -- our new poll, how do you feel strength of support, 72% of voters are strongly excited. 74% of obama voters. that's a virtual tie and extremely or very enthusiastic about voting in november, 65% of republicans. 64% of democrats. does...
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there will still be a substantial deficit, but it will be smaller. president obama's main contribution to this $16 billion debt, which is a trillion dollar debt, a ten-year figure projecting out ten years was the stimulus bill, which is $800 billion, which i believe was a good thing to do. i think that might be bigger without it. it kept people working and paying taxes and off the government payrolls. because it created new jobs. if you look at his annual spending budgets, they are about 2% increase. that's less than the rate of inflation. so, i think that the reason that i believe he'll win re-election is we are beginning to recover. we have a higher rate of job creation since the recession bottomed out in the middle of 2009 than in the previous eight years. and, we are moving in the right direction and the policies he's advocated are going to produce good economic results. if people thought it was like another recession, he would be in trouble. it's not like another recession. they know it. >> people say the paralysis in washington, the inability t
there will still be a substantial deficit, but it will be smaller. president obama's main contribution to this $16 billion debt, which is a trillion dollar debt, a ten-year figure projecting out ten years was the stimulus bill, which is $800 billion, which i believe was a good thing to do. i think that might be bigger without it. it kept people working and paying taxes and off the government payrolls. because it created new jobs. if you look at his annual spending budgets, they are about 2%...
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so the next subject, the deficit. mitt romney claims even with this tax cut, he will not add to the deficit. >> my number one principle is there will be no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. that's part one. so there's no economist can say, mitt romney's tax plan adds $5 trillion, if i say inwi will no add to the deficit with my tax plan. my plan is not to put in place any tax cut that will add to the deficit. >> but all we have is his word. mitt romney has not laid out any specifics for how he would pay for these tax cuts. he would reduce some deductions and close loopholes, but hasn't said which ones or how many. so the verdict on mitt romney, incomplete. there were some other issues there. we want to further break down the issue of health care. our senior medical correspondent, elizabeth cohen, joins us from atlanta. elizabeth, governor romney said he didn't raise taxes in massachusetts to pay for romney care. let's listen. >> what were some differences? we di
so the next subject, the deficit. mitt romney claims even with this tax cut, he will not add to the deficit. >> my number one principle is there will be no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. that's part one. so there's no economist can say, mitt romney's tax plan adds $5 trillion, if i say inwi will no add to the deficit with my tax plan. my plan is not to put in place any tax cut that will add to the deficit. >> but all we...
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that's been a huge deficit for him over the course of this campaign. no specifics, no details. so i think that is part of the burden he carries next wednesday night. >> i suppose one of the problems for you is that barack obama is in the strange position of being the quite clear favorite. i don't think many incumbent presidents have that going into debates but people say i saw a poll this morning, he's up nearly 60% of americans believe obama will win the debates. that's always a rather precarious place to go into a debate, isn't it, as the clear favorite because expectation levels can often exceed performance. >> that is definitely the case. you know, the president -- we're taking this debate very seriously. we know that there's a certain expectation on our side. we also know what history tells us, that challengers normally win the first debate, just by the fact that they're standing on the stage with the president. that elevates them. and they normally come into these things as underdogs so we're coming into this debate very realistic that mitt romney is likely to win, if he
that's been a huge deficit for him over the course of this campaign. no specifics, no details. so i think that is part of the burden he carries next wednesday night. >> i suppose one of the problems for you is that barack obama is in the strange position of being the quite clear favorite. i don't think many incumbent presidents have that going into debates but people say i saw a poll this morning, he's up nearly 60% of americans believe obama will win the debates. that's always a rather...
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what spain and greece are doing is trying to cut the budget deficit with 25% unemployment, and doing it when bond yields are too high to be able to dip into the market, especially for greece. so these countries have been forced to do this by the markets, brooke, not by politicians. their hand has been forced and now they're telling their people on streets they have got to be the ones that suffer the most. ironically, of course, the u.s. treasury have benefitted from all the european upheaval. it made it easier for the u.s. not to make the tough choices at this moment. any country trying to cut the budget deficit, it is harder to do while that country is in recession. it actually makes the recession worse, which makes it -- it has to be more cuts in order to meet the deficit targets. it is nearly impossible to see how the countries can do that. >> so you point out, you negotiation unemployment rate 25% in spain, running down more numbers, 54% of greeks under age 25 are unemployed. are major spending cuts raising retirement age here to 67, will that work for spain and greece? >> well,
what spain and greece are doing is trying to cut the budget deficit with 25% unemployment, and doing it when bond yields are too high to be able to dip into the market, especially for greece. so these countries have been forced to do this by the markets, brooke, not by politicians. their hand has been forced and now they're telling their people on streets they have got to be the ones that suffer the most. ironically, of course, the u.s. treasury have benefitted from all the european upheaval....
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>> he is talking about the economy, talking about the deficit, talking about four years of president obama would be detrimental to the country. it's pretty plain and simple. president obama and republican nominee mitt romney are laying low today because they're getting ready to prepare for the debate, so it's the number 2s on the campaign trail. right behind me here, here's paul ryan stumping here in new hampshire, a crucial battleground state. when he's done here, he goes to ohio later today. another very big important battleground state. and that's the whole idea here, as the president and mitt romney get ready for the debate. paul ryan and vice president joe biden are on the campaign trail. specific new hampshire. the race here is kind of close. the most recent poll shows president obama with a five-point advantage over mitt romney. definitely a very close contest here in new hampshire. this is a state that may not know paul ryan very well, but knows mitt romney very well, who was governor of neighboring massachusetts. he owns a vacation home here in new hampshire. spends a lot of
>> he is talking about the economy, talking about the deficit, talking about four years of president obama would be detrimental to the country. it's pretty plain and simple. president obama and republican nominee mitt romney are laying low today because they're getting ready to prepare for the debate, so it's the number 2s on the campaign trail. right behind me here, here's paul ryan stumping here in new hampshire, a crucial battleground state. when he's done here, he goes to ohio later...
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how specifically will you bring down the deficit? there's certainly a lot of room to put some and a lot of imptous for them to put some meat on the bones. >> okay. as we look for the meat, let's talk about something we've talked about that before that being swing states. romney has really whittled the president's lead to two percentage points. these are virginia numbers now. this is a poll released by "the wall street journal" nbc news, so a two-point lead for obama down from five points last month. let me show you one more graphic. you're going to see florida numbers. similar story there. now a one-point lead for obama. down from four points in september. could, candy, could this debate tonight really, you know, represent romney's best chance to catch fire? >> certainly. and i don't think it's his best chance. i think it's the beginning of his best chance, if that makes sense. i don't think we've seen -- we have seen times when debates have changed things. but there still is a lot of time and two more debates for these guys plus a v
how specifically will you bring down the deficit? there's certainly a lot of room to put some and a lot of imptous for them to put some meat on the bones. >> okay. as we look for the meat, let's talk about something we've talked about that before that being swing states. romney has really whittled the president's lead to two percentage points. these are virginia numbers now. this is a poll released by "the wall street journal" nbc news, so a two-point lead for obama down from...
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also president obama has been hammering away at romney's tax plan arguing it will add to the deficit. romney has called for cutting all tax rates by 20%. he also wants to eliminate taxes on capital gains and dividends for families who make less than $200,000. there was an independent analysis done by the nonpartisan tax policy center and it did find that romney's plan would drop tax revenues by $5 trillion. but romney has promised he won't add to the deficit because he'll pay for any tax cuts by limiting deductions for taxpayers especially the wealthy. so this isn't really a major break from what he said before. he's just kind of shifting the emphasis, playing up a different part of his plan. >> so deductions. what deductions would mr. romney limit? >> now, that is the $5 trillion question. we tonigdon't know. he has hinted he may scale back the mortgage deduction for wealthy homeowners. think about how many tax deductions are out there. charitable giving, he state and local taxes. it won't be politically easy to scrap any of them because they're popular. so that's why budget cruncher
also president obama has been hammering away at romney's tax plan arguing it will add to the deficit. romney has called for cutting all tax rates by 20%. he also wants to eliminate taxes on capital gains and dividends for families who make less than $200,000. there was an independent analysis done by the nonpartisan tax policy center and it did find that romney's plan would drop tax revenues by $5 trillion. but romney has promised he won't add to the deficit because he'll pay for any tax cuts...
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and you heard the president last night describe how he plans on reducing the deficit. he said it was $4 trillion but only in washington would you count $4 trillion of reduction when, in fact, his plan calls for adding a trillion dollars of debt every one of the next four years. the congressional budget office says that by the end of a four-year period if he were to be reelected trickle down government could lead to a setting of $20 trillion in debt. i think that's wrong. i think we should instead take a course represented by freedom which says we'll finally get america to cap our spending, to cut our spending and get us on track to a balanced budget. and it's -- it's not often i'm told that republicans are able to go out and talk about medicare with such passion as we do but let me tell you. when someone is taking $716 billion away from our current seniors in their medicare plan to pay for obama care, we say no way. we'll put it back and get rid of obama care. and then, and then there's our military. the president has proposed cutting our military budget and then the s
and you heard the president last night describe how he plans on reducing the deficit. he said it was $4 trillion but only in washington would you count $4 trillion of reduction when, in fact, his plan calls for adding a trillion dollars of debt every one of the next four years. the congressional budget office says that by the end of a four-year period if he were to be reelected trickle down government could lead to a setting of $20 trillion in debt. i think that's wrong. i think we should...
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deficit will magically go away, and we will live happily ever after. there's only one problem. we just tried this during the last decade. during the previous presidency. it didn't work. top down economics never works. the country doesn't succeed when only the rich get richer. we succeed when the middle class gets bigger. when more people have a chance to get ahead. more people have a chance to live up to their god-given potential. look, i don't believe we can get very far with leaders who write off half the nation as a bunch of victims who never take responsibility for their own lives. i've got to tell you, as i travel around ohio and as i look out on this crowd, i don't see a lot of victims. i see hard-working ohioans. that's what i see. we got students who are trying to work their way through college. we have single mom who's are putting in overtime to raise their kids. >> your outstanding president of this institution, bowling green, outstanding woman, really smart. there she is right there. we were talking because we both were raised by single moms. she was telling the stor
deficit will magically go away, and we will live happily ever after. there's only one problem. we just tried this during the last decade. during the previous presidency. it didn't work. top down economics never works. the country doesn't succeed when only the rich get richer. we succeed when the middle class gets bigger. when more people have a chance to get ahead. more people have a chance to live up to their god-given potential. look, i don't believe we can get very far with leaders who write...
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the europeans roaring bang from a 10-4 deficit late saturday to take a tuning 14 1/2 to 13 1/2 point win. germany's martin kaymer sank a putt on the final hole to seal the victory. honestly it was all lost well before that. europe has won the seven out of the last nine ryder cups. and soledad i don't know if you had a chance to watch this debacle. a debacle embarrassing. >> yes, it was killing my poor husband. all right, john, thank you. >>> back to our top story this morning. two days until the first presidential debate. both candidates are getting last-minute preparations. "the new york times" reporting that mitt romney is coming armed on wednesday night, writing this, mr. romney's team has concluded the debates are about creating moments and has equipped him with a series of zingers that he's memorized and has been practicing on airds since august. president obama responded to that report last night with this. >> i know folks in the media are speculating already on who's going to have the best zingers. i don't know about that. who's going to put the most points on the board. gover
the europeans roaring bang from a 10-4 deficit late saturday to take a tuning 14 1/2 to 13 1/2 point win. germany's martin kaymer sank a putt on the final hole to seal the victory. honestly it was all lost well before that. europe has won the seven out of the last nine ryder cups. and soledad i don't know if you had a chance to watch this debacle. a debacle embarrassing. >> yes, it was killing my poor husband. all right, john, thank you. >>> back to our top story this morning....
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mitt romney also talked about the deficit last night. and he claims that even with his tax cut, he will not add to the defici deficit. >> my number one principle is there will be no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. that's part one. so there's no economist that can say mitt romney's tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. my plan is not to put in place any tax cut that will add to the deficit. >> the problem in both of these claims is a lack of specifics. what the president is assuming, the reason we said false on his claim, he basically is assuming if he just did a tax cut and nothing else, then it would include this giant amount of tax breaks for people out there. but that's what mr. romney is saying he won't do. he's saying he has all these specifics in terms of cutting deductions, finding ways of closing loopholes so that people would pay more and there wouldn't be this giant tax cut but he wouldn't say what that would be. this lack of
mitt romney also talked about the deficit last night. and he claims that even with his tax cut, he will not add to the defici deficit. >> my number one principle is there will be no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. that's part one. so there's no economist that can say mitt romney's tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. my plan is not to put in place any tax cut that will add to the...
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i won't put in place a tax cut that adds to the deficit. that's part one. so there's no economist can say, mitt romney's tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. my plan is not to put in place any tax cut that will add to the deficit. >> the problem is, all we have here is his word, because mitt romney has not really laid out any specifics for how he would pay for his tax cut. all he says is closing loopholes or reducing deductions, but the verdict is incomplete. and there was one subject we thought may have been a missed opportunity for barack obama. medicare, a big topic of discussion for some time. mitt romney made the claim like he has repeatedly that president obama is looking to make cuts that affect people in the program today. >> what asupport is no change for current retirees and near retirees to medicare and the president supports taking $716 billion out of that program. >> and mitt romney also said, flat-out, that president obama wants to cut $716 billion from medicare. this one's been checked and checked
i won't put in place a tax cut that adds to the deficit. that's part one. so there's no economist can say, mitt romney's tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. my plan is not to put in place any tax cut that will add to the deficit. >> the problem is, all we have here is his word, because mitt romney has not really laid out any specifics for how he would pay for his tax cut. all he says is closing loopholes or reducing deductions, but the...
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more jobs will slash that deficit. >>> our third story, another day, another bad set of numbers for mitt romney. there are two new polls today by the american research group and they have mitt romney trailing president obama in two more swing states. five points in new hampshire and two in virginia. although i wanted to highlight the virginia one. there had been other polls to show that gap wider. this would be a much better than expected result than some of the others we've seen. this week -- has not been kind to the republican candidate as polls have shown him falling behind the president. but he is not showing any change in confidence. >> i've got a little secret here and that is that obama campaign thinks that pennsylvania is in their pocket. they don't need to worry about it. and you're right and they're wrong. we're going to win pennsylvania. we're going to take the white house. >> he's going to have to overcome a big deficit to do it, but people do like a comeback kid. max, jen, the obama campaign press secretary. two very different problems. one, you don't want to get complacent
more jobs will slash that deficit. >>> our third story, another day, another bad set of numbers for mitt romney. there are two new polls today by the american research group and they have mitt romney trailing president obama in two more swing states. five points in new hampshire and two in virginia. although i wanted to highlight the virginia one. there had been other polls to show that gap wider. this would be a much better than expected result than some of the others we've seen. this...
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there have been so many economic failure failures, the failure to create jobs or bring down the deficit. >> kevin, i want to get to some smalls we have on latino likely voters, but i want to quickly ask you, why did governor romney wait to this point to bring this forward on immigration policy? >> well, kate, we've had a lot of discussions on this issue. i think this was an opportunity where a question was asked, specifically on that question, and the governor answered it. he did talk in expansive terms about immigration, what he would do to modernize the immigration system, how it's an important part of our economy. during his recent interview that he had with univision. and i think it will continue to be a part of this debate. >> kevin, i want to show you, we put up on our screen for our viewers some new polling we have out today, showing that president obama really has an overwhelming lead among likely latino voters. 70 to 26 for governor romney. are now aggressively courting the latino vote, are you expecting to get anywhere near or beyond what senator mccain got back in 2008, which
there have been so many economic failure failures, the failure to create jobs or bring down the deficit. >> kevin, i want to get to some smalls we have on latino likely voters, but i want to quickly ask you, why did governor romney wait to this point to bring this forward on immigration policy? >> well, kate, we've had a lot of discussions on this issue. i think this was an opportunity where a question was asked, specifically on that question, and the governor answered it. he did...
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who's better equipped to deal with the deficit and debt. the more they play to the religious right on social issues, the more they risk alienaing these centrist voters. >> did you disagree? >> absolutely. the latest polls show that people trust obama more now with the economy. this economy issue solely is a losing issue for romney as the economy improves, but also it fails to reck thiz people care about other things other than just the economy. >> pastor jeffers, if i may, i was making the distinction about not just the economy, but deficit and debt. so, i appreciate your desire to have your nominee really focus on playing to the base in the religious right. that is your prerogative, but you can't rewrite polls to say that's a winning strategy when it comes to reaching out. >> what i'm saying to you is that i think the hunt for these elusive independent or undecided voters out there is going to be a losing strategy. it was in 2008 for john mccain. i think it will be this time. i'm not saying he has to make these social issues the heart of e
who's better equipped to deal with the deficit and debt. the more they play to the religious right on social issues, the more they risk alienaing these centrist voters. >> did you disagree? >> absolutely. the latest polls show that people trust obama more now with the economy. this economy issue solely is a losing issue for romney as the economy improves, but also it fails to reck thiz people care about other things other than just the economy. >> pastor jeffers, if i may, i...
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so as a deficit, romney has a plan but it's a secret. the republican party has imposed a new kiechld political correctness on their leaders. they cannot speed certain words, taxes, talk about their speculations or ideas or their path because these are forbidden. he's trying to run a campaign without running afoul of his party's strictures. as for himself he's twisted himself into a pretzel, spoken vac youously. that's a straightjacket even peggy noon nan's eloquence can't get him out of this. for more on this, read my "washington pos "washington post" column this week on cnn.com/fa reek. let's get started. -- captions by vitac -- www.vitac.com nt >>> for . >>> for eight years ma'am mud ahmadinejad has come to the u.s. general assembly and every time he's caused controversy, making accusations. this year was different. it was mostly platitudes about word peace but he had plenty of sharp comments in a series of interviews. his conversation with me was his final one. perhaps his final one on the world stage. you see, iran's election law say
so as a deficit, romney has a plan but it's a secret. the republican party has imposed a new kiechld political correctness on their leaders. they cannot speed certain words, taxes, talk about their speculations or ideas or their path because these are forbidden. he's trying to run a campaign without running afoul of his party's strictures. as for himself he's twisted himself into a pretzel, spoken vac youously. that's a straightjacket even peggy noon nan's eloquence can't get him out of this....
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. >> i think the leadership question tonight, if it's -- on domestic policy, is going to be the deficit issue, the fiscal management of the country, and in talking to romney advisers, that's sort of the key thing they are going to point out in terms of leadership, talk about commander in chief at the next debate. but this debate is about fiscal management and who is going to be better for me in the next four years. >> very quickly, david. >> first 45 minutes of this, the most important 45 minutes of the campaign, all about the economy. i've known jim lehrer for a long time. he won't be constricted by the -- he could well go into libya and what's been happening in the second part of the debate. >> not just the first 45 minutes are important, after the debate, our job, the fact checking, reality checking, wolf, a little bit on that. >> we certainly do, anderson. a very impressive reality check team to determine if the candidates are telling us the truth tonight. john berman is one of the team's leaders, joining us now. john, you have been fact checking candidates' recent claims on the cam
. >> i think the leadership question tonight, if it's -- on domestic policy, is going to be the deficit issue, the fiscal management of the country, and in talking to romney advisers, that's sort of the key thing they are going to point out in terms of leadership, talk about commander in chief at the next debate. but this debate is about fiscal management and who is going to be better for me in the next four years. >> very quickly, david. >> first 45 minutes of this, the most...
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. >> $1.3 trillion deficit you definitely need something to bring that deficit down. bring the national debt down at some point down the road. once there is a balanced budget. who knows when that would be. most people assume nothing is going to happen as far as the fiscal cliff is concerned between now and november 6. but afterwards in that lame duck session between november 6 and december 31, something will happen. are you among those who will agree -- agree that the fiscal cliff will be avoided? >> yes. i think it will be avoided. i mean, you know, depends on the election. you know. if governor romney wins it is likely -- would kick the can into next year. leave everything the same for a few months. let -- the new president come into office and get it together. probably in the spring. president obama wins the election, then right after the election, lame duck, the clock will start ticking and he will be under a lot of pressure to do something. let me say one other thing. you know, i think the most likely scenario is that we are actually going to have to go into next
. >> $1.3 trillion deficit you definitely need something to bring that deficit down. bring the national debt down at some point down the road. once there is a balanced budget. who knows when that would be. most people assume nothing is going to happen as far as the fiscal cliff is concerned between now and november 6. but afterwards in that lame duck session between november 6 and december 31, something will happen. are you among those who will agree -- agree that the fiscal cliff will be...
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he's got to address that likability deficit. the probable problem is, debates aren't all the best forum for that. they're good as showing you're knowledgeable but not connecting with voters. also the 47% quote. obama needs to address it -- he needs to address it firmly and get it behind him. >> and make americans think he cares about all of them. >> if you were out there with this quote saying half the country won't vote for you. you've got to address that and get it behind you. romney has more work to do. because he's down. >> right. what about president obama, what does he have to do? >> president obama is sitting on a lead. he's looking good. the race seems like it has broken. his strategy will be to sort of play defense. not make any mistakes, play it very safe. he's got to stick to the strategy, which is emphasize the positives in the last four years and do what he's been doing, attack romney, attack him on that 47%. the other thing obama has to do, he's done a little bit but he hasn't to a certain degree is lay out specifi
he's got to address that likability deficit. the probable problem is, debates aren't all the best forum for that. they're good as showing you're knowledgeable but not connecting with voters. also the 47% quote. obama needs to address it -- he needs to address it firmly and get it behind him. >> and make americans think he cares about all of them. >> if you were out there with this quote saying half the country won't vote for you. you've got to address that and get it behind you....